CNOOC Ltd offers $4bn bonds

24 April 2014, News Wires – The overseas arm of state-run China National Offshore Oil Corporation (CNOOC) is offering $4 billion worth of bonds to help repay loans related to its takeover of Canada’s Nexen last year.

It said it would use the net proceeds from the offering to repay all or part of the $2 billion facility it entered into to repay part the bridge loan that financed the company’s $15.1 billion acquisition of Nexen